175-177 Wadsworth Associates LLC Acquires Multifamily In Washington Heights For $9.5M
61-69 Wadsworth Avenue & 71-79 Wadsworth Avenue
$9,500,000
$52/SF
Building Size
181,320 SF
Asset Type
MultiFamily
Closing
Feb 20, 2024
AI
The multifamily property located at 61-69 & 71-79 Wadsworth Avenue in Washington Heights, Manhattan, was sold for $9,500,000. This property consists of 110 units with a price per unit of $86,364. The total square footage of the property is 90,660, translating to a price per square foot of $105.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,500,000
- Units: 110
- Price Per Unit: $86,364
- Square Footage: 90,660
- Price Per Square Foot: $105
- Address: 61-69 & 71-79 Wadsworth Avenue
- Market: Washington Heights, Manhattan
The sale of this property was facilitated by Amit Doshi and Shallini Mehra, who are both from Meridian Capital Group. Jacob Schmuckler, also from Meridian Capital Group, served as the mortgage broker in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93